Bank of New York Mellon Corp has reduced its stake in Banner Co. (NASDAQ:BANR) by 9.6% in the first quarter, according to its recent filing with the SEC. As of the end of the most recent quarter, the firm owned 675,742 shares of Banner’s stock, after selling 71,878 shares during that period. This equates to Bank of New York Mellon Corp owning approximately 1.97% of Banner, with a total value of $36,740,000.
In addition to this development, Banner also recently announced a quarterly dividend which was paid on August 11th. Shareholders recorded on August 1st received a dividend of $0.48 per share. The ex-dividend date for this payout was July 31st. With an annualized basis of $1.92 and a dividend yield of 4.42%, Banner’s dividend payout ratio stands at 33.28%.
This news provides insight into the investment decisions made by Bank of New York Mellon Corp regarding Banner Co., as well as giving a clearer picture of the dividend opportunities available to shareholders.
Bank of New York Mellon Corp’s decision to decrease its position in Banner suggests that it may have alternative investment options that it deems more favorable or believes offer better potential returns in comparison to holding shares in Banner Co.
It is worth noting that selling part of its stake may not necessarily indicate a lack of confidence in Banner’s future prospects but rather could be part of a portfolio rebalancing strategy or general financial management tactic employed by Bank of New York Mellon Corp.
Banner’s recent dividend declaration further highlights the company’s commitment to returning value to its shareholders through consistent payouts. With an impressive dividend yield and reasonable payout ratio, investors can potentially reap long-term benefits from their investment in Banner Co.
As always, it is important for investors and stakeholders to thoroughly study companies’ financial statements and conduct their own analysis when making any investment decisions. This information alone should not be used as the sole basis for investment choices.
In conclusion, Bank of New York Mellon Corp’s decrease in ownership of Banner Co. and Banner’s recent dividend announcement offer valuable insights into the financial landscape of both companies. By examining these developments and conducting additional research, investors can make informed decisions about how these events may impact their portfolios.
Updated on: 03/12/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
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Changes in Institutional Ownership and Analyst Ratings Shed Light on Banner Co.’s Future Growth Potential
Institutional investors and hedge funds have recently made significant changes to their positions in the financial services provider, Banner Co. These alterations in ownership shed light on the sentiment surrounding the company and its potential for growth.
Belpointe Asset Management LLC entered a new position in Banner during the fourth quarter, acquiring shares worth $27,000. Similarly, CoreCap Advisors LLC also initiated a new position during the same quarter, investing approximately $28,000 in Banner. Eagle Bay Advisors LLC saw a substantial increase of 126.7% in its stake in Banner during the second quarter, now owning 501 shares valued at $28,000 after purchasing an additional 280 shares. Coppell Advisory Solutions Corp. joined these institutional investors by buying a fresh position in Banner at the end of last year with an investment of about $44,000.
Private Ocean LLC took a different approach and significantly raised its stake in Banner during the first quarter. The firm increased its ownership by 162.7%, acquiring an additional 745 shares valued at $65,000. Overall, institutional investors now own approximately 83.92% of Banner’s outstanding stock.
Financial analysts and brokerages have closely observed these developments and commented on Banner’s future prospects. Raymond James lowered their target price for Banner from $58.00 to $50.00 while maintaining an “outperform” rating for the company in July this year. StockNews.com began coverage on Banner recently with a “sell” rating.
Stephens reiterated their “overweight” rating on shares of Banner and set a price target of $53.00 on July 20th. Bloomberg data reveals that one analyst rated the stock as “sell,” another as “hold,” and three brokers assigned it with a “buy” rating respectively.
As trading opened on Thursday, shares of BANR were valued at $43.39 per share—reflecting investor reactions to recent developments. The company holds a market capitalization of $1.49 billion, with a price-to-earnings ratio of 7.52 and a beta of 1.01, indicating its sensitivity to market fluctuations. Banner’s current ratio stands at 0.81, while the quick ratio is slightly lower at 0.80. The debt-to-equity ratio is relatively modest at 0.40.
The stock has displayed some volatility in recent months as reflected by its moving averages. The 50-day moving average stands at $45.78, while the 200-day moving average is marginally higher at $50.43.
Banner Co.’s most recent quarterly earnings report was released on July 19th, revealing an earnings per share (EPS) of $1.32 for the quarter—falling short of analysts’ consensus estimates by ($0.24). While revenue for the quarter amounted to $150.94 million, it fell below the consensus estimate of $167.26 million.
Banner demonstrated a net margin of 28.30% and achieved a return on equity of 14.40%. Looking ahead, equities analysts project that Banner Co.’s earnings per share for the fiscal year will amount to approximately $5.74.
In conclusion, institutional investors have recently made significant changes to their positions in Banner Co., signaling their confidence or concern about the company’s outlook and potential growth opportunities. Financial analysts have varied opinions on Banner’s future prospects—an “outperform” rating from Raymond James contrasted with a “sell” rating from StockNews.com.
Share prices opened at $43.39 on Thursday, reflecting investor sentiment towards recent developments surrounding the company.